Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement in an attempt to achieve financial independence after employment. Most retirement planning models provide a target sum that the user should save before retirement. These plans typically fail to consider changes that may affect retirement planning over time and nor do these plans determine the readiness of the user to retire over a period of time.
Consistent allocation of savings or revenue for retirement aids in reaching retirement targets sums. However, early in an allocation plan, retirement models and other financial services do not typically consider consistent allocations within the overall financial health.